Forum Asset Management Development Accountant, Real Estate Finance

Location: Toronto

In Office:5 days per week

Overview of Forum:

Join us in deliveringExtraordinary Outcomesthrough investment.

Forum is an investor, developer and asset manager operating across North America for over 28 years, focusing on real estate, private equity and infrastructure, with a strategic concentration in housing.

Our AUM exceeds $3 billion. We are committed to sustainability, responsible investing and creating value that benefits our stakeholders and the communities in which we invest, what we call our Extraordinary Outcomes.

In 2024, Forum completed thelargest real estate transaction in Canadawith theAlignvest acquisition,making us thelargest owner of Purpose-Built Student Accommodation (PBSA) in Canada through our $2.5B open ended Real Estate Income and Impact Fund (REIIF).Ournational development pipeline now exceeds $3.5 billion,positioning Forum as thelargest developer of PBSA in Canada, operating from coast to coast.

The Forum team is adaptable, agile, and dynamic, committed to sustainable and responsible investing. Our people bring diverse cultural backgrounds and professional experiences, fostering innovation and thought leadership.

We uphold integrity, trust, and transparency as core values, knowing that to achieveExtraordinary Outcomes,we need to support and develop anExtraordinary team.

Position Overview:
The Accountant, Real Estate Development Finance is responsible for overseeing all financial aspects of real estate development projects, including budgeting, financial reporting, cash flow management, and ensuring compliance with accounting principles and standards. This role reports to the Development Controller and collaborates closely with project managers, development teams, corporate accounting/finance, and other stakeholders to ensure the successful execution of development initiatives.

Key Duties and Responsibilities:

• Financial Planning & Budgeting:
  • Assist in preparing and maintaining project budgets, ensuring that costs are accurately allocated and controlled throughout the development process.
  • Track project expenditures and monitor budget/proforma against actuals.
  • Assist in the preparation of financial forecasts and cash flow projections for all development projects
• Project Accounting & Reporting:
  • Manage day-to-day accounting for development projects, including project cost tracking, accounts payable, and receivables.
  • Prepare detailed project cost reports, review with construction and development project managers and prepare package for senior management, investors, and stakeholders.
  • Ensure accurate project accounting entries are made in line with company policies and accounting standards, month end entries, JV reconciliation and reporting.
  • Review and enter financial statements provided by third parties/property managers. Reconcile with company accounting records and account accordingly
• Cost Management & Analysis:
  • Analyze project costs and provide cost-benefit analysis to ensure projects are financially viable.
  • Work with project managers to identify areas of cost savings or financial improvements.
  • Review contractor invoices and reconcile costs with contractual terms and scope of work.
• Compliance & Risk Management:
  • Ensure all project-related financial activities comply with applicable accounting standards, tax regulations, and company policies.
  • Ensure all required documents are included with contractors progress bills, account for and reconcile hold back account for all GC.
  • Assist with internal and external audits related to development projects.
  • Maintain proper documentation and record-keeping for all project financials.
• Collaboration & Communication:
  • Liaise with development teams, project managers, and senior leadership to ensure financial goals and objectives are met.
  • Provide financial insight and guidance to the development team, assisting in decision-making processes related to the project's financial health.
• Investment & Financing Support:
  • Assist in securing project financing, including preparing draw reports for senior management approval and submission to lenders or investors.
  • Monitor and track project financing and ensure that financial obligations are met.
• Other Duties:
  • Perform ad hoc project accounting analysis and reporting as required.
  • Assist with the development of cost tracking systems and tools.

Candidate Profile:

• Bachelors degree in accounting, Finance, or a related field. A CPA designation is a plus, but not required.
• 3+ years of development/project accounting experience, preferably within the real estate, construction, or development sectors.
• Experience with project-based accounting, budgeting, and financial reporting.
• Strong proficiency in accounting software (preferable Yardi, or other project management software).
• Advanced Excel skills (e.g., pivot tables, financial modeling, etc.).
• Strong analytical skills with the ability to interpret complex financial data.
• Excellent communication and interpersonal skills for working with diverse teams and stakeholders.
• Ability to manage multiple projects simultaneously and meet deadlines.
• High attention to detail and accuracy.
• Knowledge of accounting principles and financial regulations.
• Strong problem-solving and critical thinking skills.

At Forum, we encourage diversity. We are committed to an inclusive workplace that reflects our belief that diversity is central to building a high-performing team. Forum is an equal opportunity employer. We are committed to providing accessible employment practices. Should you require an accommodation during any phase of the recruitment process, please let the recruitment team know - [email protected]..